Travel insurance is a type of insurance that covers costs and damages that occur during travel. It is a way of protecting yourself from financial loss while you are away from home or even domestically.
By buying a travel insurance policy, you let an insurance company take responsibility for covering expenses in case of accident or loss.
What type of protection exactly?
When you are traveling, lots of accidents can occur, such as medical emergencies, loss of baggage, loss of passport or even a flight delay. If you face any of these situations during your trip, your travel insurance can be used to pay for unexpected expenses and in some cases, your insurance company will provide you with medical assistance and guidance.
International travel is exciting, but if you are faced with an emergency in a location full of unfamiliar faces, with no knowledge about the locality, things can get scary. More importantly, medical bills can be HUGE at an international destination.
To understand exactly how travel insurance works, read a travel insurance story here.
Is travel insurance mandatory?
When traveling from Pakistan, some countries will not issue your travel visa or your student visa without proof that you have travel insurance and are covered for medical emergencies. Every country, however, has a different policy depending on visa type, duration of stay and purpose of stay.
To find a complete list of countries and visa requirements, click here.
Travel Insurance provides cover for a number of losses. These losses are listed below. (A travel insurance policy may or may not include all of the following):
Is travel insurance expensive?
Contrary to popular belief, travel insurance is actually very affordable since the price depends on how long you are planning to travel for. This holds true especially for shorter trips.
For example, Travel insurance for Turkey can cost you as low as PKR 1700 for one week and PKR 12,000 for a year.
You can even get travel insurance for your spouse, parents, and children.